Globalstar, Inc. (NYSE:GSAT - Get Free Report) saw some unusual options trading activity on Wednesday. Investors bought 26,105 call options on the stock. This represents an increase of 328% compared to the typical daily volume of 6,105 call options.
Analyst Ratings Changes
Separately, StockNews.com upgraded shares of Globalstar from a "sell" rating to a "hold" rating in a research note on Monday.
Read Our Latest Research Report on GSAT
Globalstar Stock Down 4.8 %
Shares of GSAT traded down $0.09 during midday trading on Friday, reaching $1.80. 11,740,500 shares of the stock were exchanged, compared to its average volume of 6,792,834. Globalstar has a twelve month low of $1.00 and a twelve month high of $2.13. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09. The stock has a market capitalization of $3.41 billion, a P/E ratio of -60.00 and a beta of 0.88.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Globalstar during the third quarter worth approximately $56,000. Sender Co & Partners Inc. purchased a new position in Globalstar during the 3rd quarter worth $106,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Globalstar by 1,000.5% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company's stock worth $161,000 after acquiring an additional 117,864 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Globalstar by 26.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company's stock worth $407,000 after acquiring an additional 68,599 shares during the period. Finally, XTX Topco Ltd boosted its holdings in shares of Globalstar by 3,472.7% in the third quarter. XTX Topco Ltd now owns 976,353 shares of the company's stock valued at $1,211,000 after acquiring an additional 949,025 shares in the last quarter. Institutional investors and hedge funds own 18.89% of the company's stock.
Globalstar Company Profile
(
Get Free Report)
GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar's products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service.
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